New Delhi, April 3 -- Protection gaps are expected to worsen across all lines of the insurance business till 2030 as insurers worldwide contend with unsustainable rate-driven growth, according to new research released today by Bain & Company.

As per the definition, the protection gap refers to the difference between insured and uninsured losses.

The report by the global consultancy firm warns that protection gaps will widen across all lines of business through 2030, with only 25-33 per cent of natural disaster damages and less than 50 per cent of mortality risks expected to be covered by insurance.

Bain's report, Bridging the Protection Gap: Affordability, Access, and Risk Prevention, shows the challenges facing the insurance industry ...